Tit - bits

Photo: The Economic Times 

The Indian bourses maintained their winning run for the fifth consecutive session, yesterday. The S&P BSE Sensex moved up by 187.24 points or 0.51% to end the day at 36,674.52, while the Nifty 50 index gained 36 points or 0.33% to close at 10,799.65.

Some of factors which is believed to have helped the upward march of Nifty could be:

• Easing of lockdown restrictions, across India. 
• Impressive recovery rate of patients from Coronavirus,
• The expectations of a Covid -19 vaccine coming up soon,
• Decent Q1 operating performance by banks,
• Progress of monsoon across the country. Surplus rainfall is good for kharif season, sowing for which is currently underway.
• Signing of $750 million agreement by the World Bank and the Government of India for the MSME Emergency Response Programme to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs), which were severely impacted by the COVID-19 crisis,
•  Rebound in U.S. services industry activity in June and expectations of a gradual revival of China's economy, apart from D escalation of Sino  - Indian border skirmishes. 

In the five consecutive sessions, the Nifty has risen 4.83% and the Sensex has risen 5.04%.

In broader market, the BSE Mid-Cap index rose 0.58%, while the BSE Small-Cap index moved up by 0.57%. Both these indices outperformed the Sensex.

However, the market breadth was negative. On the BSE, 1339 shares, while 1379 shares fell. A total of 163 shares remained unchanged on the BSE.

#The shares of Spandana Sphoorty Financial Ltd (Rs.577.50) moved to Rs.588.85, intraday. Accumulate the shares of declines, for the targets mentioned in the earlier post. 

#The scrip of Gujarat Narmada Valley Fertilizers & Chemicals Ltd (Rs.160.25) yesterday, moved to Rs.163.90, completing the 1st target. You must have booked some profits.

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#The stocks of Panacea Biotech Ltd, moved up to Rs.196.85, intraday, before closing at Rs.190.50, in the NSE. However, the scrip is not performing as expected. Exit out, during intraday rise, with slight profit or loss or no profit. Call closed.

#My recently recommend Shreyas Shipping & Logistics Ltd (Rs.65.15), is consolidating around Rs.63/67. The investors, should accumulate in market declines, with SL,  mentioned earlier. Shipping sector is doing well even during Covid - 19 catastrophe.

"#Buy the shares of Williamson Magor & Company Limited, near the CMP of Rs.17.80, for short term targets of Rs.25/41. SL: Rs.14.
The Maharashtra government has allowed hotels to reopen with 33% capacity from 8 July. This is a positive development for all the tea and beverage companies.